It has been about a month since the last earnings report for Lithia Motors (LAD) . Shares have lost about 1.4% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Lithia Motors due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Lithia Q1 Earnings Miss Expectations, Divi ...

WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-14733 Lithia Motors, Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Exact name of registrant as specified in its charter) Oregon 93-0572810 (State or other jurisdiction of incorporation or organization) 150 N. Ba ...

Lithia Motors (LAD) reported first-quarter 2024 adjusted earnings per share (EPS) of $6.11, which declined from the prior-year quarter’s $8.44 and missed the Zacks Consensus Estimate of $7.85.Total revenues jumped 23% year over year to $8.56 billion. The top line outpaced the Zacks Consensus Estimate of $8.5 billion.Segmental PerformanceNew vehicle retail revenues increased 22.4% year over year to $4 billion, missing our estimate of $4.3 billion due to a lower-than-expected number of units sold and average ...

For the quarter ended March 2024, Lithia Motors (LAD) reported revenue of $8.56 billion, up 22.7% over the same period last year. EPS came in at $6.11, compared to $8.44 in the year-ago quarter.The reported revenue represents a surprise of +0.50% over the Zacks Consensus Estimate of $8.51 billion. With the consensus EPS estimate being $7.85, the EPS surprise was -22.17%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine thei ...

Lithia & Driveway (LAD) Reports Record First Quarter Revenue of $8.6 billion, 23% Increase ________________________________________________ Announces Dividend of $0.53 per Share for First Quarter Medford, Oregon, April 24, 2024 - Lithia & Driveway (NYSE: LAD) today reported the highest first quarter revenue in company history. Corporate Development During the first quarter, LAD completed the acquisition of Pendragon PLC's Fleet Management and UK Motor Divisions in the United Kingdom and grew in the North Ce ...

Lithia Motors (LAD) came out with quarterly earnings of $6.11 per share, missing the Zacks Consensus Estimate of $7.85 per share. This compares to earnings of $8.44 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -22.17%. A quarter ago, it was expected that this auto dealership chain would post earnings of $8.11 per share when it actually produced earnings of $8.24, delivering a surprise of 1.60%.Over the last four quarters, t ...

Announces Dividend of $0.53 per Share for First Quarter MEDFORD, Ore., April 24, 2024 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today reported the highest first quarter revenue in company history. First quarter 2024 revenue increased 23% to $8.6 billion from $7.0 billion in the first quarter of 2023. First quarter 2024 net income attributable to LAD per diluted share was $5.89, a 29% decrease from $8.30 per diluted share reported in the first quarter of 2023. Adjusted first quarter 2024 net income attri ...

Lithia Motors (LAD) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on April 24, 2024, might help the stock move higher if these key numbers are better than exp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended: December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-14733 Lithia Motors, Inc. (Exact name of registrant as specified in its charter) Oregon 93-0572810 (State or other jurisdiction of incorporation or organization) (I.R.S. Emplo ...

Financial Data and Key Metrics Changes - In Q4 2023, Lithia & Driveway reported revenues of $7.7 billion, an 11% increase from Q4 of the previous year, and adjusted diluted earnings per share of $8.24. Full-year revenues reached just over $31 billion [21][22] - Adjusted EBITDA for Q4 was $400 million, with nearly $1.8 billion for the full year 2023 [73] - Free cash flows for the quarter were $242 million, a 10% increase compared to the previous year [74] Business Line Data and Key Metrics Changes - New vehicle sales saw same-store unit volumes increase by 10%, while aftersales revenues rose by 3% [21][51] - Used vehicle revenues decreased by 11% and units sold were down 6%, with average selling prices declining by 5% to $28,000 [54] - The aftersales business, which constitutes 42% of gross profit, increased by 3% with gross margins at 55% [57] Market Data and Key Metrics Changes - The company holds approximately 8% market share in the UK, primarily in the luxury segment, and is focusing on expanding its presence in the US automotive market [6][27] - New vehicle inventory day supplies rose to 65 days, compared to 55 days at the end of Q3 [53] Company Strategy and Development Direction - The company aims to build an unreplicable ecosystem, focusing 90% of M&A dollars on automotive in the US [27][37] - A strategic partnership with Pinewood Technologies is expected to enhance customer experience and operational efficiency [83] - The company targets a revenue-to-EPS ratio of $2 for every $1 billion in revenue, with a long-term goal of achieving $50 billion in revenue [31][37] Management's Comments on Operating Environment and Future Outlook - Management anticipates a normalization in GPU levels, projecting total GPUs, including F&I, to reach $4,500 by the end of 2024 [52] - The company remains focused on improving margins and reducing SG&A as a percentage of gross profit below 50% [41][59] - Management expressed confidence in achieving strong returns through disciplined acquisitions and operational improvements [34][37] Other Important Information - The financing operations segment, Driveway Finance Corporation, reported a smaller-than-expected loss of $2.1 million, with receivables growing to $3.2 billion [24][62] - The company has completed nearly $22 billion in acquisitions since 2020 and is adjusting its strategy to balance M&A and share repurchases [74][75] Q&A Session Summary Question: On the buyback strategy shift and leverage - Management indicated that while M&A and buybacks are at parity, market conditions will dictate the approach. They have repurchased $40 million in shares during the quarter due to favorable valuations [9][11][13] Question: On Pinewood Technologies and its implementation - Management views Pinewood as a leading DMS system that will provide significant cost savings and improved functionality, enhancing the overall customer experience [93][94][97] Question: On SG&A growth relative to gross profit - Management acknowledged that SG&A growth has outpaced gross profit growth but expects normalization in the second half of the year [99][100] Question: On used vehicle market recovery - Management anticipates a recovery in the used car market by the end of February, driven by seasonal trends and inventory adjustments [102][103] Question: On leasing penetration and market conditions - Management noted that leasing penetration is influenced by manufacturer incentives and inventory levels, with expectations for improvement in the back half of the year [131]